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Re: Business Idea For Nigerians (Virgin Ideas) by Nobody: 5:54am On Apr 20, 2013
yamakuza:

funny enough, i know of 2 existing Escrow sites/services in Nigeria, but people still seem uninterested in using them.

even though the Escrow idea is good, your major challenge will be public enlightenment.



seems you really did your research. thats nice.

not sure, but i suspect that the OP is trying to list ideas people can start with less than say $1k, so i believe an escrow service can still take off on such a small scale. it will just have to be niche based.



going into the nuts and bolts of both posts of yours might just be beyond the scope of this thread sha, i think.



the location of your school (eg city vs village) will go a long way in [url=https://www.google.com.ng/search?q=site%3Anairaland.com+++setting+up+a+hotspot&sa=Search]determining startup costs[/url] (equipment wise).

[url=https://www.google.com.ng/search?q=site%3Anairaland.com+++setting+up+a+hotspot&sa=Search]LINKS[/url]






Thanks for the support and contribution bro.You have indeed understood it right. I have given a simple example of how a basic escrow service will work.That you can see from my Igbo trader/Hausa Boko haram Buyer and the Police example where the police acted as the Escrow website. lol.... i will try to explain again thus

A buyer or a seller haven agreed on a particular price decides to use the Escrow website as their Police.
STEP 1
Either the Buyer or Seller may start a new escrow transaction from the Member Account. The fully automated system instantly adds the new transaction to both parties accounts. If one party doesn't have an account, the system will invite them to join using their email address or user id.

STEP 2
From the private escrow status page, the Buyer submits Bank transfer payment to Online Escrow Website(Police) admin for safekeeping. When payment has been submitted, the system instantly updates the status of the transaction and instructs the Seller to ship the item. Once the item has been shipped, the Seller informs Escrow Site(Police) from the status page.
Note: For an infant enterpreneur startup,he (escrow admin7Police) can easily confirm the buyers money with his internet Netbanking access without having to visit the bank.Most Nigerian bank transfer appear instantly and a text message is sent to the account owner.eg. Firstbank

STEP 3
The Buyer receives the item and upon confirmation(done by a click of bottom through the buyers panel), the Escrow site is notified and then the police sends out the money to the selling taking his commission.. Both parties are protected from fraud every step of the way.
Note:The police transfers the money using online banking to the seller.

Basically,what you need to start of this website is an

1. EScrow Site- ensure that the website is User-Friendly. As friendly as possible. see example
https://www.escrow.com/escrow-101/how-it-works-buyerseller.aspx

2.An Escrow Bank Account: A Bank account with your website name as its Account name.thats if you dont intend to use the epayment service offered in Nigeria.You could integrate paypal,moneybookers and the rest of internationally known payment providers.This is just incase there might be a buyer outside of Nigeria.
Even though they might at the initial stage not feel protected by the Nigerian Escrow.They will definitely feel protected by foreign payment like payment. Meaning- when they send you(The escrow/police) the payment using Paypal,they are assured of retracking their money back if the transaction doesnt succeed.Its an opportunity to work indirectly with paypal without partnering with them.and you even charge higher fee for paypal transaction depending on how you approach it.
Your bank should have an internet Netbank access so as to reduce the stress of going to the bank everything there is an escrow transaction.

3.Paypal,Moneybookers account: If you intend to expand your userbase by offering your Escrow service to users abroad,you might need a verified genuine paypal,moneybooker and the rest of them account.most of this paypal service have credit card that charge just a minimum to withdraw cash in any local cash machine in Nigeria.meaning,it is easier to cashout money from paypal/moneybooker and avoiding Nigerian bank transfer charges and doing it legally without bridging any CBN or international money laundering laws.

Note Dont forget to place a feedback rating system/blog to enable people rate your Escrow service base on their experience.This will help you attract international users and thus international payment website investors like paypal and you might then start a partnership with them or sell it off for huge sum if you choose.

Remember An attractive User friendly website front page is necessary as that is the first standpoint of potential customers and determines the degree of trust worthiness/Security they will have using your site.



I just figured out another Virgin Opportunity here. At one point in time,people are sending money to and from Nigeria.I see a money market website that help people exchange/send and receive money to and from Nigeria just like Westernunion and moneygram but in this case, a sender must find a receiver and reach an exchange agreement then utilize your escrow to transfer money cheaply on the market place. Western union and moneygrams are in big trouble if this idea is actualized as it is a fact that more Africans use westernunion or would i say there are more western union transfer made to africa as compared to the ones made within europe and america.

If its possible to exchange e-currency like Liberty reserve,Payza etc on ecurrency website,then it is also possible to create a money exchange marketplace for senders and receivers of money to and from Africa.

Feel free to exploit this ideas and share your opinion and constructive critics.

Note: Only Africans can develop Africa






visit my forum for more tips
http://africanpark.com/

1 Like 1 Share

Re: Business Idea For Nigerians (Virgin Ideas) by Nobody: 6:22am On Apr 20, 2013
HeroKing: Dear poster,

Your intellectual capital is high; you need to develop it and make the best of it for yourself and possibly for mankind.

Looking at the number of pages of quality business ideas you have already, frankly speaking, you are on the right path to making fortunes. All you need is to fine-tune and turn them into a goldmine. You already know great ideas come in crude form, so I will not lecture you on that.
Teaser: the pages are enough to make a good book on Internet Business Ideas. My suggested title for you can be any of the following:
- "101 Online businesses you can do".
- "Internet Business Ideas"
- "Easy to start businesses with great prospects"
- "Fire your passion, fire your boss, hire your bank manager"

With your knowledge about e-book development, you can do a little more research and add a chapter in the book on how to develop ebooks; that alone can get you as much as 20 quality pages in addition to your existing writeup. Watch videos on how to create your own eBooks in 15 minutes: -
https://www.youtube.com/watch?v=XWZhYYVCdIA&feature=fvwrel
-
https://www.youtube.com/watch?v=DjEL8oyMkBE&feature=related
Turn pdf document to eBook magazine:
https://www.youtube.com/watch?v=9sj1ThhGJIY&feature=related

With a good editor (I could edit the book for you for free), the ideas can be packaged in a smart eBook for sale with publishing cost close to zero!. Imagine selling just half a million copies online at say $10 each, $500,000 is to your credit. With amazon.com et al the sky is the limit for the sale of this hotcake.

I could invest in some of the ideas as I have done in the past. See an example of what I am talking about here www.achievershostel.com. You can pick my contact details from the site's contact us page and let us take it up from there.

My little cents.




Thanks Bro,

Its so amazing to know my writeup could make millions for me.I have received alot of feedback both online and offline and even some readers telling me not to expose my ideas,or their current ebusiness idea but i give them the same answer.Im doing it for a purpose and i feel happy doing it.In life one have to understand that doing what makes you happy makes you live longer.

If a reader is impressed by my writeups and decide to employ me as a consultant or research and development manager in his or her company.I simply say Tervetuola meaning i will welcome/accept it as long as i keep doing what keeps me happy.I wouldnt mind partnership with any person,i have the capital,ideas to do so but i have my own limitations too.I am just casting my net and hoping that someday i can permanently return to Nigeria a fulfilled and happy man.

Besides,i stated when i started this thread that i wouldn't mind a reference when a viewer refers me during his or her success history ceremony.

Only Africans Can Develop Africa.


Regarding the link you posted about your website "http://www.achievershostel.com/",Permit me to review your website.I must say if i have to analyse your website base on user base,i would say you rarely get visitors to this site and you might never profit from this site. why?
because your site is not user-friendly. it appears like something that was randomly produced by an 2 months old quark student.
Information wise- There are a couple of Open source free rental script available online.just ask my best friend google. you will be surprised how information can be offered for free this days. meaning,you can build student hostel reservation site even without learning how to program.
When a customer visits a site.they want to be welcomed by the site even though you dont have to vocally tell them goodmorning sir,or kedu. If you dont welcome them well,they will think you are arrogant and unrespectful and then continue with another site.

That is how a thousand of online business loose potential customers without even realizing it.Ensuring your site is user friendly go a long way in marketing your site to more potential customers.

forgive me if i have passed my boundaries.Its always good to tell the truth rather than saying God will send customers to your site/business like most Nigerians do.Then we spend alot of money marketing out business by sending a percentage to church pastors for uncommon/unrealistic prayers.

lol.. its not Sunday yet.
visit my forum for more tips
http://africanpark.com/
Re: Business Idea For Nigerians (Virgin Ideas) by webmastern(m): 7:03am On Apr 20, 2013
Nice one bro. You seem to have forgotten to complete no 13 (online store) business idea. Longing to hear from u soon. Thanks
Re: Business Idea For Nigerians (Virgin Ideas) by Nobody: 8:13am On Apr 20, 2013
webmastern: Nice one bro. You seem to have forgotten to complete no 13 (online store) business idea. Longing to hear from u soon. Thanks

Hi bro,

Thanks for reminding me about my promise.I will try recall where i stopped and hence continue.

1 Like

Re: Business Idea For Nigerians (Virgin Ideas) by ezehisaac(m): 8:36am On Apr 20, 2013
@mrnestyy thumbs up.you are in deed a genius. I hope that the Almighty God will continue to bless you by giving you the grace to continue unfolding more gestures,you shall continue to be a solution finders in Jesus name,amen!
Re: Business Idea For Nigerians (Virgin Ideas) by ezehisaac(m): 8:43am On Apr 20, 2013
tobtap: We can partner on dis biz idea if u are interested..seanyemi@yahoo.com is my email add..pls waiting for u reply.

ok man, i'd like to see your proposal, thanks
Re: Business Idea For Nigerians (Virgin Ideas) by ezehisaac(m): 8:56am On Apr 20, 2013
talk2D:
Not only a partner.
U need cold cash to spend on marketing.
Do u knw why is more popular than nairalist by seun?
It was Marketed on 250,000 Naira full page newspaper, on Africa Magic tv channel(DSTV), google adwords e.t.c.

Play smart and see smart results
'Build it and they will come' they will only come if they know the value but if they don't ?
TEACH THEM THE "BENEFIT" and not features.

thanks for the concern bro,i sincerely appreciate your contribution. but i like to tell you that i'm aware of the importance of both on and off line marketing, and i also know that my prospective partners would do better by prioritizing it in their plans..this is a grassroot idea that will later become a cinch if properly amassed,and all we need is to start from somewhere no matter how small.
I see a great future in this,and i hope my partners are seeing that as well!

1 Like

Re: Business Idea For Nigerians (Virgin Ideas) by stan121: 1:05pm On Apr 20, 2013
@ Mrnestyy1985, God bless u bros. Plz i need ur email address or phone number delivered to ablestan@gmail.com. I hv some issues to discuss wit u on wat am doing now. Tanks in anticipation.
Re: Business Idea For Nigerians (Virgin Ideas) by Nobody: 5:34pm On Apr 20, 2013
Mrnestyy1985, thanks and God bless you for the ideas that you have revealed on this thread. The wireless hotspot idea to be precise. I thought of it few years back but didn't pursue it. Any more info pertaining to it that you can share will be highly appreciated Mrnestyy1985.
Hmm, the escrow service idea, make sense die. But I think am gonna have to let that go cos reading the comments on this thread had me convinced that few folks are already on it, which them success.
Thanks
Re: Business Idea For Nigerians (Virgin Ideas) by manny4life(m): 11:41pm On Apr 20, 2013
mrnestyy1985:


Great idea,i must commend you for that. grin in terms of advertising.the problem with Nigerian entrepreneurs is that they always want to make money within a few hours of creating or lunching their business.they always forget that business development(product cycle) stages include Lunching idea- Marketing(awareness)-- Break-Even--- Profit generation. some business men always want to move from Lunching an idea to profit generation and they end up going bankrupt.

As regards to marketing a hotspot product,i think is an easy process.If i would be a hotspot service provider,the first place to take my business to is to the Nigerian University. If i live in Lagos.i would choose the University of Lagos as my target market.Then i will narrow it down to a department/faculty. it cost about 1000 naira to print 2000 copies of handbill/posters.The content of the advert handbill/poster will include Free wireless internet connection
Because the growth of laptop,ipad/notebook and handheld phone are uptrend and people do not currently have internet access to their device,they will be attracted to try out the hotspot by simply searching for available wireless connection.They will definitely see a free wifi connection and try to connect.After connection,they try to browse a site.they will get a site redirection to your hotspot webpage where they will be prompted to either browse for free or subscribe to a connection plan.

Remember i stated in my earlier replies that you should try to offer 1 minutes of free browsing for marketing/ awareness purpose.after the 1 minute free browsing expires,they are prompted to to subscribe to get additional browsing.

When you Break-Even on one department,All you have to do to expand successfully to other department is to place advert on your hotspot redirection homepage like " We are in the follow department,faculty and so on" The existing users will help you do the rest of marketing for free by sharing the good news to their faculty friends in other department and from there,the same process can be taken out to another university region,city etc.

You see.... with 1000 naira handbill/poster advert,you have been able to market your product to a whole school. all im saying is to identify your target market using sample size.

Note:To our Nigerian economist,please pardon me if i have slaughtered basic economics terms.lol



please feel free to share your ideas and opinion.as with every problem spotted comes a solution and thus a million naira business.

Thank you for your wonderful insight about the marketing structure, I do agree with all that you've written, I mean that's all part of the marketing strategies - identifying your niche. The issue still remain on how to get access to that bulk purchasing of internet. Glo and MTN will sell on wholesale basis, this will become a major hurdle depending on how you view it. Someone on this thread once stated - if GLO and MTN can do, why should they partner with you?

As for what's needed, anyone starting out needs a small office space, networking equipments (network modems and routers that generate the wifi signals), unless if you have STRONG computer networking background, you need a network specialist/tech on your payroll. Although I'll recommend to anyone who's interested, CISCO products (routers) are the BEST. I've used their router for my home, together with their software, and man, CISCO has great products.


Regardless of it's limitations, I still like the idea.
Re: Business Idea For Nigerians (Virgin Ideas) by HeroKing: 1:20am On Apr 21, 2013
Mrnesty,

Thank for your comments on the website. Kindly drop me a mail on the contact address on the site. We can discuss hnto improve it.
Re: Business Idea For Nigerians (Virgin Ideas) by quintex: 3:28am On Apr 21, 2013
mrnestyy1985,aw r u?love your post,bt i wil like us to talk on fone to discuss some of what u posted,kindly pls call me on 08032806258
Re: Business Idea For Nigerians (Virgin Ideas) by kramer: 11:38am On Apr 21, 2013
Following.
Re: Business Idea For Nigerians (Virgin Ideas) by isaactolu: 6:02am On Apr 22, 2013
Mrnestyy1985 emailed me yesterday that he has been banned by nairaland. I wonder why the mod will do such, this is unfair
Re: Business Idea For Nigerians (Virgin Ideas) by godello: 8:14am On Apr 22, 2013
isaactolu: Mrnestyy1985 emailed me yesterday that he has been banned by nairaland. I wonder why the mod will do such, this is unfair
God of mercy,help us, why on earth should he be banned? Moderator why do u choose to be an enemy of progress, the enemy within. Well this must be a joke lets wait and see.
Re: Business Idea For Nigerians (Virgin Ideas) by FXKing2012(m): 8:51am On Apr 22, 2013
isaactolu: Mrnestyy1985 emailed me yesterday that he has been banned by nairaland. I wonder why the mod will do such, this is unfair
It's the robot, not the mod. The ban will soon be lifted though.
Re: Business Idea For Nigerians (Virgin Ideas) by coolwas(m): 10:05am On Apr 22, 2013
where is mrnnesty1985?abeg robot or who are u?leave dis guy.
Re: Business Idea For Nigerians (Virgin Ideas) by jahjehova(m): 1:18pm On Apr 23, 2013
isaactolu: Mrnestyy1985 emailed me yesterday that he has been banned by nairaland. I wonder why the mod will do such, this is unfair

Pls send me his maill addy to deleonipede@gmail.com.
Tanx
Re: Business Idea For Nigerians (Virgin Ideas) by Nobody: 11:09am On Apr 24, 2013
Lol.. Mr"Robot" has unbanned me hehehehe 8
Re: Business Idea For Nigerians (Virgin Ideas) by webmastern(m): 4:04pm On Apr 24, 2013
mrnestyy1985: Lol.. Mr"Robot" has unbanned me hehehehe 8
Thank God u r back. Mr robot, mind urself o.

2 Likes

Re: Business Idea For Nigerians (Virgin Ideas) by godello: 7:21pm On Apr 24, 2013
Pls Mrnestyy1985 email me ASAP on akobi4u@yahoo.com i need ur assistance on some matters thanks.
Re: Business Idea For Nigerians (Virgin Ideas) by godello: 7:22pm On Apr 24, 2013
Pls Mrnestyy1985 email me ASAP on akobi4u@yahoo.com i need ur assistance on some matters thanks...
Re: Business Idea For Nigerians (Virgin Ideas) by ezehisaac(m): 7:59pm On Apr 24, 2013
mrnestyy1985: Lol.. Mr"Robot" has unbanned me hehehehe 8

nna men,the thing really affected me too ooooo,
but thank God sha they 've unbanned me as well cheesy cheesy cheesy cheesy
all witch back to sender
abeg, mrnesty fire on make we carry dey go grin grin
Re: Business Idea For Nigerians (Virgin Ideas) by interbiz2(f): 8:47pm On Apr 24, 2013
Hi @ OP could you pls send your email add to modeygloria@gmail.com, we really need to talk. Thanks.
Re: Business Idea For Nigerians (Virgin Ideas) by saidioo: 9:54pm On Apr 24, 2013
Pls mrnesty1985 pls send me ur email addy to saidioo@yahoo.com so we can discuss.
Re: Business Idea For Nigerians (Virgin Ideas) by MrNigeria2(m): 9:57am On Apr 25, 2013
Please @Mrnesty
...kindly continue with your tutorial on the e commerce site ...or you can simply create a new thread on it. Thanks
Re: Business Idea For Nigerians (Virgin Ideas) by Nairaplus(m): 5:56pm On Apr 26, 2013
ezeh isaac: i need a partner for this, seriously

@Ezeh isaac, I am ready to partner. My contact details are on my signature below.

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